Wintershall DEA Adds CFO

BASF and LetterOne have appointed Paul Smith as future chief financial officer (CFO) and member of the management board of Wintershall DEA.

The appointment will take effect on closing of the merger of Wintershall and DEA, which is expected in the first half of 2019 and is still subject to customary regulatory approvals.

Paul Smith has over 25 years of international experience in the oil and gas industry having worked for Vesta Energy, Talisman Energy, and BP, and having held positions in Calgary, Trinidad and Tobago, London, Aberdeen and Russia.

Lord Browne, executive chairman of L1 Energy said: “We are delighted that Paul will join Wintershall DEA as CFO. He has extensive international and entrepreneurial experience in a wide range of leadership positions, and will play a critical role as the company enters a new era of growth and ambition.”

Hans-Ulrich Engel, vice chairman of the board of executive directors and chief financial officer of BASF, said: “With Wintershall DEA we will create the leading independent European exploration and production company. We are very pleased that we were able to attract Paul Smith, who is an experienced specialist and leader. He will strengthen the joint venture’s management team on its way to further profitable growth.”

Commenting on his appointment as future CFO, Paul Smith said: “I am tremendously excited to be joining Wintershall DEA and to be part of the creation of the largest independent exploration and production company in Europe. The combined portfolio and scale of Wintershall DEA will provide significant potential for sustainable, long-term growth.”